HUGO BOSS Group (HUGSF.PK) reported that its first-quarter earnings before taxes decreased to 106.4 million euros from 125.2 million euros last year. Profit to equity holders of the parent company was 81.6 million euros or 1.18 euros per share, compared to 93.9 million euros or 1.36 euros per share last year. Net sales were down two percent to 593.5 million euros from 606.8 million euros last year.
The Group said the persistently challenging economic environment and a different timing of product deliveries to wholesale partners had an adverse impact on its sales and earnings performance in the first quarter. The Group reaffirmed its sales and profit targets for 2013.
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